Australia's Gillard: Economy resilient, not immune

RayBrindal

CANBERRA (MarketWatch) -- Prime Minister Julia Gillard said Tuesday that while Australia's economy is resilient and is favorably located near China and other rapidly growing regional economies, the nation isn't immune to global events and so is pressuring European leaders "to stop muddling through and to get their house in order."

European leaders need to address sovereign debt issues and to recapitalize banks and while there is discussion in local newspapers about Australia injecting funds into the International Monetary Fund "you only get to that stage if Europe emerges with a credible plan to address its economic woes," she said in an interview on ABC radio in Perth.

Gillard also said the government is continuing to work cooperatively with representatives of the mining industry on the details of the planned Mineral Resources Rent Tax.

"We will deliver the agreement that I entered into with the biggest mining companies in the middle of last year," and will work every step of the way with the industry, she said.

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